REGISTERED NUMBER: 00464817 (England and Wales)

BRITISH FURNITURE ASSOCIATION LTD

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

to

7

DIRECTORS:

Mr Nicholas Mark Garratt

Mr Michael Aramayo

Mr Brian Joseph Ahern

Ms Nichola Bell

Mr Christopher David Fort

Mr Paul Richard James

Mr Ian Robert Oscroft

Mr James Peter George Keen

Mr Philip Spademan

Mr David Matthew Finch

Mr Richard Nixon Prudhoe

Ms Emma Jane Leeke

REGISTERED OFFICE:

Bloxham Mill Business Centre

Barford Road

Bloxham

Banbury

Oxfordshire

OX15 4FF

REGISTERED NUMBER:

00464817 (England and Wales)

INDEPENDENT AUDITORS:

Phipps Henson McAllister

Chartered Accountants

and Statutory Auditors

22-24 Harborough Road

Kingsthorpe

Northampton

NN2 7AZ

FIXED ASSETS

Intangible assets

4

5,814

12,643

Tangible assets

5

875

1,263

6,689

13,906

CURRENT ASSETS

Debtors

6

286,344

271,691

Investments

7

4,116,911

3,919,686

Cash at bank and in hand

196,510

172,303

4,599,765

4,363,680

CREDITORS

Amounts falling due within one year

8

457,653

391,516

NET CURRENT ASSETS

4,142,112

3,972,164

TOTAL ASSETS LESS CURRENT LIABILITIES

4,148,801

3,986,070

PROVISIONS FOR LIABILITIES

326,428

240,954

NET ASSETS

3,822,373

3,745,116

RESERVES

Retained earnings

3,822,373

3,745,116

3,822,373

3,745,116

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 June 2026 and were signed on its behalf by:

Mr Nicholas Mark Garratt - Director

1.	STATUTORY INFORMATION

British Furniture Association Ltd is a private company, limited by guarantee , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates

In the application of the company's accounting policies management is required to make judgements, estimates and assumptions about carrying values of assets and liabilities that are not readily apparent from other sources.

The estimates and underlying assumptions are based on historical experience and other factors that are considered relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis.

The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below.

Fair value of listed investments

The fair value of the listed investments has been determined on the basis of the price quoted on the

relevant Stock Exchange as at the closing rate on the 31 December 2025.

The deferred tax in respect of the fair value movements should be calculated at the tax rate that is expected to apply in the period in which the liability is settled. The management have no intention to sell all the listed investments and consequently do not have an expectation of the applicable rate. The management has judged that the current prevailing rate of tax, is an appropriate estimate.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover comprises the fair value of the consideration received or receivable in the ordinary course of the company’s activities. Turnover is shown excluding discounts, rebates and value added tax where applicable.

Annual subscriptions fees and revenue from hire of stalls at the trade fair is recognised in the period they relate to.

Revenue from projects to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the agreement.

The company recognises revenue when:

The amount of revenue can be reliably measured;

it is probable that future economic benefits will flow to the entity;

and specific criteria have been met for each of the company's activities.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Trademarks are being amortised evenly over their estimated useful life of ten years.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment

-

25% straight line

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2024 - 4 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 January 2025

and 31 December 2025

34,639

AMORTISATION

At 1 January 2025

21,996

Charge for year

6,829

At 31 December 2025

28,825

NET BOOK VALUE

At 31 December 2025

5,814

At 31 December 2024

12,643

5.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 January 2025

5,416

Additions

509

At 31 December 2025

5,925

DEPRECIATION

At 1 January 2025

4,153

Charge for year

897

At 31 December 2025

5,050

NET BOOK VALUE

At 31 December 2025

875

At 31 December 2024

1,263

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

130,345

133,669

Other debtors

155,999

138,022

286,344

271,691

7.	CURRENT ASSET INVESTMENTS

2025

2024

£

£

Listed investments

4,116,911

3,919,686

Current asset investments comprise various funds managed by independent fund managers. The carrying value represents the market value at the Balance Sheet date. Financial assets are held at fair value through profit and loss.

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

42,065

18,876

Taxation and social security

40,852

37,836

Other creditors

374,736

334,804

457,653

391,516

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Andrew Greenhalgh BFP FCA (Senior Statutory Auditor)

for and on behalf of Phipps Henson McAllister

10.	RELATED PARTY DISCLOSURES

Director remuneration for the year was:

2025

2024

£

£

Remuneration

121,895

112,700

11.	LIMITED BY GUARANTEE

The company is incorporated under the Companies Act and is limited by guarantee. Each member of the Association undertakes to contribute to the assets of the Association in the event of the same being wound up while he or she is a member, or within one year after he or she ceases to be a member, for payment of the debts and liabilities of the Association contracted before he or she ceases to be a member, and of the costs, charges and expenses of winding up, and the adjustment of the rights of the contributories among themselves such amount as may be required not exceeding fifty pounds.